Vi­sion­fund Myan­mar raises $4 mil­lion loan

Mint Asia ST - - Inside -

New Delhi: Vi­sion­fund Myan­mar has re­ceived $4 mil­lion in fi­nanc­ing from the Ja­pan ASEAN Women Em­pow­er­ment Fund (JAWEF) and Mi­cro­fi­nance Ini­tia­tive for Asia (MIFA) Debt Fund, the firm an­nounced on 6 Septem­ber. ASEAN is short for the As­so­ci­a­tion of South-east Asian Na­tions.

The fi­nanc­ing will be in the form of a loan for a two-year term from JAWEF, a mi­cro­fi­nance ini­tia­tive aimed at the em­pow­er­ment of women in South-east Asia, and MIFA. Both funds are man­aged by global im­pact in­vest­ment man­ager Blue­or­chard Fi­nance Ltd.

Vi­sion­fund Myan­mar claims to have the largest ge­o­graph­i­cal reach in pro­vid­ing mi­cro­fi­nance ser­vices in the coun­try. The firm will use the loan to ex­tend ser­vices to ru­ral and ur­ban com­mu­ni­ties, it said in a state­ment.

Rom­mel Carin­gal, chief ex­ec­u­tive of­fi­cer of Vi­sion­fund Myan­mar, said, “We be­lieve in brighter fu­tures for chil­dren, em­pow­er­ing fam­i­lies to cre­ate in­comes and jobs and un­lock­ing eco­nomic po­ten­tial for com­mu­ni­ties to thrive. We are pleased to col­lab­o­rate with Blue­or­chard, and this co­op­er­a­tion will en­able us to ex­pand our ser­vices and bring greater fi­nan­cial in­clu­sion to fam­i­lies of Myan­mar.”

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